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October 26, 2017

"The Fastest Structured Settlement Payouts of All Time" and Other Vacuous Claims

by Structured Settlement Watchdog

In the structured settlement secondary market, making vacuous marketing claims is almost a right of passage.  Strategic Capital, a Toronto based structured settlement factoring company, makes the vacuous claim to have "the fastest structured settlement payouts of all time". It uses this to solicit United States citizens and to compete with other US companies.  But I believe that it is also misleading to consumers if the claim cannot be verified.  So right here, right now I'm going to call out Strategic Capital to substantiate their dubious advertising claim, given the billions of structured settlement factoring deals consummated industry wide over a 20 year period.

Prove it Strategic Capital

Prove It! My Strategic Capital Research Project

Strategic Capital's website claims that they've completed transactions in as little as 18 days, but also admits correctly that the length of time varies by state. 

So Strategic Capital, please provide me with the following:

Fastest transaction in each of the states that you do business.

Draw only from completed transactions between 2012-2017 

Measure from the time the selling annuitant signs the contract to the time they have a check in hand or the net proceeds of the structured settlement transaction are wired to their account as verified by bank records.

The report should also list the complete caption, jurisdiction and case number and be from a court that has online access to court dockets so it can be easily and independently verified. I know is a lot of work,but you did make a very general superlative claim extrapolating what maybe w few results, with a clear intent to solicit business from structured settlement annuitants and at the expense of competition.

Deadline

Any company that has the balls to make such a claim should have the data at their fingertips, but I'll 'give Strategic Capital two months, a more than reasonable time,  to compile the data.

So prove it by December 27, 2017.  Only cases that were concluded by October 26, 2017 apply because that is the day I saw the ad.

In the alternative, Strategic Capital can remove your claim and let people draw whatever inference they may. Or do nothing and let people draw whatever inference they may.

Secondary Market Invited to Participate in Side Contest

I invite each and every structured factoring company to provide me their entry for the fastest cases concluded in the following sample states using the same parameters.

  • New York
  • Florida
  • California
  • Connecticut
  • Pennsylvania
  • Virginia  
  • Maryland
  • Texas

Top result for each of the states will be published as part of my report in January 2018.

Is the fastest structured settlement factoring deal the best value proposition for you?

If you're desperate for cash maybe, but it is the law that a judge is supposed to determine whether or not the deal is your best interest and any applicable dependents. As the activities in the Portsmouth VA circuit have shown, fast is not a good thing. Retired Judge Dean Sword among others, including lawyer Steve Heretick,  have been alleged complicit in an alleged Annuity Fraud Enterprise in a class action lawsuit filed last month in the Eastern District of Pennsylvania . I have previously published docket records from the Portsmouth Circuit which show that on certain days Sword and other judges would spend less than 2 minutes per case. If your last line of defense in battle is only going to spend 2 minutes fighting, the enemy trying to overrun the base, how long are the base and the soldiers in it going to last?

 

 

 

 

 

 

 

Posted at 06:15 PM in National Association of Settlement Purchasers (NASP), Strategic Capital, Structured Settlement Factoring, Structured Settlement Factoring News, Structured Settlement Transfers, Structured Settlement Watchdog® |

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Guide to Structured Settlements 2023

  • What is a Structured Settlement? What You Need to Know
    Structured settlements and what you need to know about them including a helpful introductory video featuring 2023 A.M. Best Client Recommended Structured Settlement Expert and Registered Settlement Planner John Darer® of 4structures.com® LLC
  • How Do Structured Settlements Work? How Structured Settlements Work
    How structured settlements work, including 4structures.com LLC's super helpful structured settlement flow chart/diagram showing how structured settlements fit in on the spectrum of settlement planning solutions.
  • Rated Ages and Structured Settlement Cost
    Rated Ages for Structured Settlement Annuities present advantages to all parties. Shift the mortality risk to a life insurance company whose business it it is to assess mortality risk to price its life insurance and annuities. Rated ages boost your structured settlement annuity benefit per premium dollar, or your yield on lifetime payments. Rated ages help to reduce the cost of funding a Medicare Set Aside arrangement where a Structured MSA, is being used { WCMSA LMSA or NFMSA].
  • Structured Settlement Annuity Companies 2023
    Which life insurance companies issue structured settlement annuities going into 2023? A list of current structured annuity issuers, the location of their home offices and their financial ratings from A.M. Best, Moodys, Fitch, Standard & Poors and/or other Tier1 NAIC ratings, with links to their websites and other useful information.
  • Treasury Funded Structured Settlements
    Treasury Funded Structured Settlements are a settlement option for the most conservative using the OTHER permissible qualified funding asset under IRC 130(d), United States Treasury Bonds in addition to, or instead of, structured settlement annuities. Treasury Funded Structured Settlements can also be used to fund installment sales, also known as structured sales and other non qualified structured settlements.
  • Compare Structured Settlement IRR to Other Settlement Alternatives
    Use the Taxable Equivalent Yield chart to help compare the Internal Rate of Return (IRR) of a structured settlement to other alternative or complementary investments. Need help with the chart? Call 4structures.com® LLC at 888-325-8640
  • Structured Settlement Payments | Types of Structured Settlements
    Ways You Can Structure Your Settlement Payments. With a structured settlement you can have more than one type of payment in a single contract. Different types of structured settlement payments can be customized and combined to meet your needs on a stand-alone basis, or in conjunction with other financial products. Diversify your structured settlement, if you wish, by funding with more than one annuity issuer, with treasury funded structured settlements, index linked structured settlement payments and market based structured .
  • Structured Attorney Fees for Tax Deferral for Contingency Fees
    Structured attorney fees is a financial strategy that offers a unique way to defer taxes for lawyers and law firms. Lawyers CAN structure their legal fees even if the plaintiff doesn't structure their settlement. There are multiple ways to structure your attorney fees, such as the an index linked structured settlement where payments are adjusted based on upside changes in the S&P 500 with no downside and a cap of 5%. Trial Lawyers may also use a special deferred pay/deferred compensation arrangement, if market based returns returns are desired with no cap. Plan NOW for year end! Put structured attorney fee expert John Darer® on your settlement planning team.
  • Structured Settlement Annuity Company Customer Service Phone Numbers
    Receiving structured settlement payments from your own structured settlement or inherited structured settlement? You'll like this huge time saver. Click for a comprehensive list of customer service telephone numbers that includes both current AND former structured settlement annuity issuers and reinsurers. If you have simple bank or beneficiary changes, or if the insurance company that issued the structured annuity has merged, sold or spun off its block of structured annuity business (e.g. Aviva, Allstate, Transamerica, AEGON, GE Capital, Liberty, CNA, Confederation Life) or changed its name and you're trying to track them down, here you go! The list is regularly updated. Last updated January 23, 2023.
  • Structured Settlement Quote Lock-Ins | What You Need To Know
    What does a Structured Settlement Lock-In Mean? How do plaintiffs, defendants and insurers benefit from a structured settlement quote lock in when finalizing a settlement? How does the defendant/insurer/court benefit from using a structured settlement lock-in? Where to be careful when using structured settlement lock ins.
  • What Are Structured Settlement Annuities?
    Structured settlement annuities are annuities that can provide one or more customized annuity payment streams in a single contract. Read about structured settlement annuities here.
  • History of Structured Settlements
    Tracing the roots of structured settlements history from 1918, when Congress exempted damages for personal injury or sickness from income tax, to the establishment of structured settlements as a core personal injury settlement planning tool to the present day.
  • What Are Market Based Structured Settlements?
    Market based structured settlements are an alternative or supplementary structured settlement solution for the plaintiff, attorney or law firm that: 1. Can afford to take some market risk 2. Have discretionary settlement dollars. Claimants and attorneys alike may find that market-based structured settlements provide the opportunity to receive tax-free income, or tax-deferred income, while enjoying growth potential.
  • iStructure |Uncapped Fixed Index Structured Settlement Annuity
    iStructure is an innovative game changing fixed index structured settlement annuity for plaintiffs or attorneys. with an intermediate to long term horizon

Qualified Settlement Funds

  • What is a Qualified Settlement Fund?
    Qualified Settlement Funds | What You Need to Know
  • Firmwide Qualified Settlement Funds Debunked
    Firmwide qualified settlement funds have been heavily promoted to trial lawyers, but have been debunked in a detailed analysis in a July 2022 legal opinion a tax partner at the law firm of Faegre Drinker Biddle & Reath, LLP. Trial lawyers and firms who have established Firmwide QSFs or coinsidering establishing a Firmwide QSF should read the analysis as part of their evaluation.

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